ECB annual report response by Parliament signals savings banks' unique role.
>> European Parliament Resolution (offsite)
>> ESBG position on the Capital Markets Union and SME lending
>> Banking Stakeholder Group Proportionality Paper
BRUSSELS, 7 March 2016 – Savings banks, along with cooperative and mutual banks, should have a regulatory framework that reflects their particular operating principles and respect their specific mission, according to a European Parliament Resolution adopted on 25 February. Responding to the European Central Bank Annual Report for 2014, the resolution calls for supervisory authorities to be aware of these aspects and take them into account in their practices and approaches. This echoes conclusions of a report by the Banking Stakeholder Group of the European Banking Authority that calls for a more proportionate, tier-based approach to banking rules.
Acknowledging that SMEs form the backbone of the EU economy, the Parliament also noted that the banking system is "instrumental" in ensuring their competitiveness and growth. It states that making credit available to real-economy firms is vital to jobs and growth, as SMEs make up 99 per cent of all businesses and four-fifths of jobs in the Union. The resolution also notes that bank lending volumes now on the slow upswing.